The sale to an unnamed institutional investor values the
180-meter (591-foot) tower at 588 million euros, the Metz-based
company said in a statement today. Almost two thirds of the 49-story building is leased by Suez Environnement SA.

FDR paid 486 million euros to buy the property, formerly
known as the GAN tower, from insurer Groupama SA in July 2007.
FDR renovated the building, originally built in 1974, and said
it’s in talks to lease the remaining 22,000 square meters
(236,806 square feet) of vacant space. It expects CB21 to
generate annual rental income of 34 million euros when full.

FDR (FDR) declined 1.1 percent to 73.02 euros as of 10:45 a.m. in
Paris trading. That cut this year’s gain to 8.1 percent, giving
the company a market value of 3.92 billion euros.